- Smaller container ships (4,000-7,500 TEU) are showing signs of recovery, while larger vessels (7,500-18,000 TEU) continue to struggle.
- Ultra-large container ships (over 18,000 TEU) have bypassed the Suez Canal due to security concerns.
- The container shipping market remains volatile, influenced by geopolitical factors and changing trade patterns.
The Suez Canal recorded its highest containership traffic for 2024 last week, with 54 vessels traversing the waterway in both directions, according to liner industry analyst Alphaliner.
Suez canal traffic picks up in 2024
The milestone comes amid ongoing challenges in the Red Sea region due to Houthi attacks on shipping that have escalated since November 2023. Container shipping has been one of the sectors most heavily affected by the reroutings.
“The traffic pattern shows a clear shift toward smaller vessels,” Alphaliner wrote on X, with sub-Panamax containers under 4,000 TEU capacity dominating 78% of total canal traffic. These smaller vessels have maintained strong transit levels, consistently recording over 100 crossings monthly since August.
Mid-sized containerships between 4,000 and 7,500 TEU have shown modest recovery signs recently, bouncing back from September’s low, according to Alphaliner. However, the impact on larger vessels has been more severe, with ships between 7,500 and 18,000 TEU experiencing a dramatic 92.5% year-over-year decline, operating at less than 20 passages monthly.
More significantly, Alphaliner points out that ultra-large containerships with capacities over 18,000 TEU have completely avoided the Suez Canal route for the past nine months, highlighting how regional security concerns continue to reshape global shipping patterns.
📢 Last week, 54 Container Ships crossed the Suez Canal in either direction. This is actually a record in 2024, when traffic through the canal has remained supressed due to the Red Sea crisis.
📈 78% of all traffic traversing the Suez Canal last week were sub-Panamax Container… pic.twitter.com/SUIWVpuxjt
— Alphaliner (@Alphaliner) November 26, 2024
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Source: Alphaliner
